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Retirement tax questions
Thank you very much for the help. I was somewhat confused by why 1040 line 5a accounts for the post tax mega backdoor Roth IRA of 32K two times, while correctly showing pretax 401K roller of 34K to IRA. So line 5a was 32 + 32 + 34 =98, instead of 32 + 34 = 66.
Guess the mega backdoor went into two stages.
- FIrst time 32K from post-tax 401K to roth 401K
- Second time the same 32K from roth 401K to roth IRA
And thus line 5a may be counting this 32K twice. I ignored it for I didn't understand why it does like that.
March 5, 2023
3:00 PM